1964 SMS Penny Value Guide: The world of coin collecting can be fascinating, especially when it comes to rare coins like the 1964 SMS Penny. If you’re a collector or even someone casually interested in numismatics, you might have come across this particular coin and wondered what makes it so valuable. What you may not know is that the 1964 SMS Penny can fetch an astonishing amount of money up to $9,000 in some cases. But what makes it so special? Let’s take a closer look at the 1964 SMS Penny, its rarity, and how its value has skyrocketed in recent years.
The History of the 1964 SMS Penny
To understand the value of the 1964 SMS Penny, it’s important to first understand its history. The 1964 SMS Penny wasn’t part of the regular production of pennies in 1964. Normally, pennies were struck at one of the U.S. Mint’s regular facilities. However, in 1964, the U.S. Mint produced Special Mint Sets (SMS) that were not intended for general circulation.
In 1964, the U.S. Mint decided to create a series of special proof-like sets known as the SMS, which included specially struck coins that had a higher level of detail than the typical circulation strikes. These sets were issued primarily as collector items and were not distributed through the normal channels. While most of the coins from these sets have remained relatively common and affordable, the 1964 SMS Penny stands out as an exceptional and rare coin.
The 1964 SMS Penny, unlike regular pennies, has a unique and highly polished finish, which is what makes it different from the standard coins issued that year. The coin was not intended for public circulation and wasn’t included in most standard rolls of pennies from 1964, making it extremely scarce today.
How the 1964 SMS Penny Became Rare
So, how did a coin that was initially designed for collectors become so rare and valuable? The primary reason for the rarity of the 1964 SMS Penny lies in its low mintage. It’s estimated that only a few thousand SMS sets were ever produced, and most of the pennies from these sets were either lost, damaged, or removed from circulation over the years.
The 1964 SMS Penny was part of a set that also included a few other special coins, but most people who bought these sets were focused on the higher-value coins, such as the Kennedy half-dollar, which was issued in 1964 to commemorate President Kennedy’s death. As a result, many of the 1964 SMS Pennies either went unnoticed or were discarded, leading to a sharp decline in the number of these coins that have survived in excellent condition.
What makes the 1964 SMS Penny so interesting from a collector’s standpoint is its extremely high level of detail. Unlike most circulation pennies, the SMS Penny has a deeply mirrored surface and a higher level of sharpness in the design. This makes the coin visually striking and a true marvel to anyone who appreciates the artistry of coin design.
The 1964 SMS Penny’s Value Today
Given its rarity and the increasing interest in collecting rare coins, it’s no surprise that the 1964 SMS Penny has skyrocketed in value. Coins like this one those that are rare and have a unique history have become highly sought after by both professional numismatists and casual collectors alike. The price of the 1964 SMS Penny can vary depending on its condition, but prices can reach up to $9,000 for examples in mint condition.
The value of the coin is largely determined by its grade, which refers to the quality of the coin’s preservation. Coins that are well-preserved with little to no wear and tear are typically more valuable than coins that have been heavily circulated or damaged. In fact, most of the 1964 SMS Pennies that survive today are in near-perfect condition, which is one reason why their value is so high.
It’s also worth noting that not all 1964 pennies are worth this much. Most regular circulation pennies from 1964 are worth only a few cents, and even those in excellent condition typically fetch only a few dollars. The real value lies in the SMS version, which is much rarer and more desirable to collectors.
How to Identify a 1964 SMS Penny
If you think you might have a 1964 SMS Penny in your collection or are planning to buy one, it’s essential to know how to identify it. The first clue that you have an SMS penny is the coin’s finish. SMS Pennies have a unique, mirror-like surface that makes them stand out from regular circulation pennies, which have a more matte finish.
The second distinguishing feature of the 1964 SMS Penny is its sharp details. The coin’s design is much crisper and more defined than regular pennies from the same year. This is because the SMS coins were specially struck using higher-quality dies and struck multiple times to enhance their detail.
Lastly, it’s important to note that not every 1964 penny is an SMS penny. There were other varieties of 1964 pennies produced that year, and they can often be mistaken for the SMS version. If you’re unsure, it’s a good idea to have the coin authenticated by a professional coin grader or numismatist.
Why the 1964 SMS Penny Continues to Grow in Value
There are several reasons why the 1964 SMS Penny continues to increase in value. For one, the rarity of the coin means that it is always in demand among collectors. As time goes on, more and more people realize just how rare and special this coin is, which drives up the price.
Moreover, the 1964 SMS Penny is also tied to an important moment in U.S. history—the year of President John F. Kennedy’s assassination and the subsequent issuance of the Kennedy half-dollar. As a result, the coin is not just valuable because of its rarity, but also because of the historical significance attached to it.
The 1964 SMS Penny is also appealing to investors looking for long-term gains. In the world of numismatics, rare coins are often seen as a hedge against inflation and an attractive alternative investment. As the demand for rare coins continues to grow, it’s likely that the value of the 1964 SMS Penny will keep rising.
Conclusion
The 1964 SMS Penny is one of the most fascinating and valuable coins in American numismatics. Thanks to its rarity, unique finish, and historical significance, it has become a highly sought-after item for collectors. While most pennies from 1964 are worth little more than face value, the 1964 SMS Penny can fetch as much as $9,000 in the right condition. If you come across one of these rare coins, it’s worth getting it professionally graded and possibly adding it to your collection. Whether you’re a seasoned coin collector or a newcomer to the hobby, the 1964 SMS Penny is a coin that can add significant value to your collection.